Institutions, portfolio managers, and fund managers seek to characterize risk in portfolios of accounts such as asset/mortgage backed loan portfolios. The composition of such portfolios are dynamic in nature and are difficult to model based on their increasing levels of complexity. For example, variations and shocks in economic indicators such as interest rates, employment rates, Employment Cost Index, employment situation, and the like through economic cycles, are difficult to translate into risk metrics as historical data for a portfolio of the same or similar composition does not exist.